The Middle East and Africa Animal Feed Additives market size witnessed significant growth in the past and is expected to grow at a CAGR of around 3.3% during the forecast period (2023-2030)
Animal feed additives are chemicals that are added to feed items to make them better for the animals' health and performance. As the need to make feed easier to stomach grows, the demand for feed additives like antioxidants, enzymes, flavors, sweeteners, and probiotics, among others, should rise. Livestock is used for many things, like meat, milk, and farming, among other things. Rising demand for meat from animals like broilers, turkeys, beef, and pigs, among others, should help the region's markets grow.
Government Support and Investment
The Saudi Arabian government unveiled its ambitious Vision 2030 plan to diversify the economy and lessen reliance on oil. To increase food security and self-sufficiency, the vision contains strategic goals and activities to improve a variety of sectors, including agriculture and livestock. The Saudi Arabian government has invested in initiatives for research and development to raise cattle. These projects seek to provide cutting-edge methods, tools, and best practices for enhancing animals' well-being, diet, and output. The research activities aid in creating new farming methods and feed additives that improve the productivity and sustainability of the cattle business.
Limited Access to Finance
Lack of finance may prevent investments in contemporary farming methods, such as animal feed additives. According to the World Bank's Enterprise Surveys, only approximately 17% of small and medium-sized businesses in the Middle East and North Africa (MENA) area had access to a formal line of credit in 2019. The inability of livestock producers to expand their businesses and finance R&D impacts the companies that create and distribute feed additives. This restriction may prevent farmers from investing in feed additives, impede the expansion of livestock operations, and slow market expansion.
Increasing Demand for Quality Animal Protein
To accommodate the rising demand for chicken products, the Middle East area has seen significant investments in the poultry business. Countries like Saudi Arabia, the United Arab Emirates, and Qatar have invested much money in integrated farms and processing units for chicken production. Due to this expansion, feed additives producers now have the chance to market goods that improve chicken performance, feed efficiency, and disease resistance.
The Middle East and African animal feed additives market is segmented based on type, form, distribution, and country.
The market is further segmented by Type into Feed sanitizers, Antibiotic, Amino Acids, Vitamins, Minerals, Mycotoxin Binders, Feed Acidifiers, Functional Feed additives (Enzymes, Probiotics, Antioxidants, Vitamins), and Others.
The functional Feed additives segment dominates the market and is expected to grow at a CAGR of 3.2% during the forecast period.
Probiotics dominate the market among the functional feed additives type and are expected to grow at a CAGR of 2.9% during the forecast period.
The market is further segmented by form into dry and liquid.
Dry dominated the market and is expected to register a CAGR of 2.6% over the forecast period.
The market is further segmented by distribution channel into Poultry, cattle, pork, and Aquaculture.
The pork segment dominates the market and is expected to grow at a CAGR of 3.5% during the forecast period.
The market is analyzed by country in Saudi Arabia, South Africa, UAE, and the Rest of the Middle East and Africa. UAE dominated the market and is expected to grow at a CAGR of 3.7% during the forecast period.
It is expected that Middle Eastern producers of meat and meat goods will help the region's market growth in a big way. Over the past few years, the area has sent and received meat from and to many countries. China and Hong Kong are the two biggest markets for beef sales. Also, the Middle East is the world's largest producer of halal meat. The rapidly growing cattle industry in the Middle East is expected to lead to much growth. Increased cow farming in the country is likely to speed up market data because there is a lot of grain feedstock used to make feed additives, and there is much agricultural land.
The African animal feed additives market is also expected to be driven by rapid urbanization, an increase in the number of people who want processed foods, and a trend toward animal husbandry.
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